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9/12, 10:17 PM (Source: TeleTrader)
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Broadcom revenue up 9% YoY, to $5.5B in Q3

United States chipmaker Broadcom Inc. said on Thursday its revenue in the third quarter of 2019 jumped 9% to reach a figure of $5.5 billion. The earnings per share (EPS) stood at $1.71, 37% from the $2.71 reported in the same quarter last year. Broadcom announced a net income of $715 million, falling 40% from last year's net income of $1.2 billion. Gross margin was 55%, 3 points higher than in the third quarter in 2018.

Semiconductor solutions net revenue fell by 5% year-on-year to $4.35 billion. Meanwhile, revenues from the infrastructure software and intellectual property licensing rose by 132% to $1.14 billion and 633% to $22 million respectively.

"Our broad portfolio of mission-critical semiconductor and infrastructure software solutions, utilized by the world's largest enterprises, continued to drive sustained revenues and robust cash flow despite a challenging market backdrop," Broadcom CEO Hock Tan stated. "Looking at the semiconductor solutions segment, we believe demand has bottomed out but will continue to remain at these levels due to the current uncertain environment," he added.

Following the earnings report, the semiconductor company shares fell 2.2% in the after-hours trading.

Breaking the News / MD